Ken Chigbo
Independent Analyst
- Bitcoin price is trading in negative territory, down 2.50% in the second half of the session.
- The price is pushing for another big retest of a breached bearish flag structure.
- Upside is extremely limited by a barrier of resistance, at the $6500-$7000 price range.
BTC/USD daily chart
The price remains within consolidation mode, moving within a rising channel formation, at risk of breakout.
BTC/USD 60-minute chart
Price action broke out and retested a breached 60-minute pennant pattern.
Spot rate: 6468.12
Relative change: -2.50%
High: 6437.11
Low: 6182.27
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